NNN Walgreens – Acquisition
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NNN Walgreens – Acquisition

TEMPE, AZ

$2,645,000

TEMPE, AZ

 

Funding Purpose

Tauro was engaged to place acquisition financing on a double-net, investment-grade asset

Property Description

The asset is a single-tenant retail property located in Tempe, AZ. Walgreens has leased this property since 1998 and flourished through the pandemic

Sponsors

Sponsors have a combined 30+ years of experience in commercial real estate ownership and development. They specialize in retail and multi-family

Challenges

  • Sponsors looking to invest in retail during unprecedented times with Covid restrictions

Solutions

  • Funding secured with institutional bank
  • Great terms due to strength of corporate backing the sponsors

Funding

  • Loan Amount (LTV): 62.5%
  • Interest Rate: 3.89%
  • Amortization: 30 Y
  • Term: 7 Y
  • Recourse: Payment Guarantee
  • Prepayment: Step down


Stephen Stein

Stephen Stein

TITLE

Managing Partner

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